Cornercap Investment Counsel Inc. Has $323,000 Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Cornercap Investment Counsel Inc. decreased its position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 51.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,697 shares of the construction company’s stock after selling 32,170 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Great Lakes Dredge & Dock were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP raised its position in shares of Great Lakes Dredge & Dock by 68.5% in the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after acquiring an additional 1,259 shares in the last quarter. Innealta Capital LLC bought a new stake in Great Lakes Dredge & Dock during the 2nd quarter worth approximately $30,000. nVerses Capital LLC boosted its stake in shares of Great Lakes Dredge & Dock by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares during the last quarter. CWM LLC boosted its stake in shares of Great Lakes Dredge & Dock by 520.5% in the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after buying an additional 4,237 shares during the last quarter. Finally, ARS Investment Partners LLC boosted its stake in shares of Great Lakes Dredge & Dock by 11.0% in the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after buying an additional 1,200 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Trading Down 1.6 %

Great Lakes Dredge & Dock stock opened at $11.94 on Monday. The stock has a market cap of $803.20 million, a P/E ratio of 13.72, a PEG ratio of 0.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.34 and a fifty-two week high of $12.83. The firm’s fifty day moving average price is $11.26 and its 200-day moving average price is $9.77.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). The business had revenue of $191.17 million for the quarter, compared to analysts’ expectations of $180.80 million. Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. During the same quarter in the previous year, the company earned ($0.09) earnings per share. Equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GLDD shares. Noble Financial boosted their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. StockNews.com cut shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Insiders Place Their Bets

In related news, Director Kathleen M. Shanahan sold 23,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total transaction of $293,495.94. Following the completion of the sale, the director now owns 67,675 shares of the company’s stock, valued at $854,735.25. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lasse Petterson sold 46,510 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $9.08, for a total transaction of $422,310.80. Following the sale, the chief executive officer now directly owns 931,101 shares of the company’s stock, valued at $8,454,397.08. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,457 shares of company stock worth $981,078 over the last three months. Company insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.